ADB Okays $1-m Tech Aid For Assam

The Asian Development Bank has approved a technical assistance grant for $1 million to strengthen budgeting and planning processes and improve fiscal management in Assam.

The grant is being financed by the British government.

The proposed technical assistance support, to be carried out over about 13 months to November 2004, will help establish a legal framework for improving fiscal management in this north-eastern state. It will also strengthen public expenditure management and promote better allocation of resources, improved fiscal performance, and fiscal sustainability, while designing more efficient procurement and payment systems to improve transparency and accountability, said a release from the bank here on Tuesday.